ITW Modifies Guidance for Fiscal 2012

Illinois Tool Works has adjusted its forecasts for this year, the company revealed in a presentation for its annual investor meeting. For 2012, the company anticipates it will post non-GAAP EPS of $5.19-$5.29, up from the previous estimate of $4.06-$4.14. This is largely due to the financial impact arising from the November sale of its Decorative Surfaces division.

Also, 4Q will also be affected by the sale. ITW is now expecting EPS of $1.99-$2.09, rather than the previous guidance of $0.86-$0.94.

In 2013, however, the company anticipates that organic revenue will grow only 1%-3% on an annual basis.